However, Dockers' sports science manager Jason Weber told the club’s website the surgery went as well as could be expected and there is a chance he could return to play within 14 to 16 weeks.
"Everything went really well and to plan," Weber told fremantlefc.com.au.
"Depending on how the KPIs (key performance indicators) go, if he recovers well and progresses well, we'll be able to push it a little bit quicker, but we're now looking forward to a return to play hopefully before the end of the home and away season."
The club was initially unsure of the timeframe of Walters' recovery but Weber says the hope of returning this year will aide the 23-year-old's recovery.
"Clearly, for a guy who is just about to embark on a long term rehab, having that carrot at the end of the season, to play… it's a great bonus for him," Weber said.
Michael Barlow is still two to four weeks away from returning from a knee injury however Garrick Ibbotson played in the WAFL last Friday after recovering from his shoulder dislocation against Hawthorn.